The Federal Deposit Insurance Corporation ("FDIC") issued a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTIES, FINDINGS OF FACT AND CONCLUSIONS OF LAW, AND ORDER TO PAY ("NOTICE OF ASSESSMENT") on September 11, 1990, against Lester Pitchford, Nancy Roethemeyer, Gary Creed, and Donald Middleton ("Respondents"), assessing civil money penalties against them in the amounts of $45,000, $10,000, $6,000, and $17,000, respectively, for violating section 23A of the Federal Reserve Act, 12 U.S.C. § 371c and/or Regulation O of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 215, at Community Trust Bank, Irvington, Illinois ("Bank").
Following the issuance of the NOTICE OF ASSESSMENT, counsel for the FDIC
{{10-31-91 p.C-1108.1}}and the Respondents negotiated a settlement of the penalties issued pursuant to this action, wherein the FDIC agreed to reduce the assessed civil money penalties and to amend the ORDER TO PAY accordingly.
IT IS HEREBY ORDERED, that the ORDER TO PAY be, and hereby is, amended to reduce the assessed civil money penalty against Respondent Pitchford from $45,000 to $29,250.
FURTHER ORDERED, that the ORDER TO PAY be, and hereby is, amended to reduce the assessed civil money penalty against Respondent Roethemeyer from $10,000 to $2,500.
FURTHER ORDERED, that the ORDER TO PAY be, and hereby is, amended to reduce the assessed civil money penalty against Respondent Creed from $6,000 to $1,500.
FURTHER ORDERED, that the ORDER TO PAY be, and hereby is, amended to reduce the assessed civil money penalty against Respondent Middleton from $17,000 to $8,500.
FURTHER ORDERED, that the penalties assessed pursuant to this AMENDED ORDER TO PAY shall not be paid, directly or indirectly, by the Bank.
FURTHER ORDERED, that the penalties assessed pursuant to this AMENDED ORDER TO PAY shall be paid within 30 days from its date of issuance. Should any Respondent fail to pay his or her penalty within the required time, that Respondent's penalty, without further notice or proceeding, shall revert to the amount originally assessed in the ORDER TO PAY, such ORDER TO PAY automatically becoming final and unappealable, and such penalty immediately becoming due.
Pursuant to delegated authority.
Dated at Washington, D.C., this 18th day of June, 1991.